Casino staff normally refer to chips as "cheques," which is of French ancestry. In reality, there is a difference between a chip and a cheque. A cheque is a chip with a amount imprinted on it and is always valued at the amount of the printed amount. Chips, although, don’t have denominations imprinted on them and any color can be worth any amt. as defined by the table. e.g., in a poker tournament, the croupier may value white chips as 1 dollar and blue chips as 10 dollars; while, in a game of roulette, the croupier might value white chips as $0.25 and blue chips as $2. A further instance, the inexpensive red, white, and blue poker chips you buy at K-Mart for your weekend poker get together are called "chips" owing to the fact that they don’t have denominations printed on them.
When you plop your $$$$$ down on the craps table and hear the dealer say, "Cheque change only," she’s simply telling the box man that a new patron would like to change $$$$$$ for chips (cheques), and that the money on the craps table isn’t part of the action. $$$$$ plays in most betting houses, so if you lay a $5 bill on the Pass Line just before the hurler throws the bones and the dealer doesn’t exchange your cash for cheques, your $$$$$ is "live" and "in play." When the croupier says, "Cheque change only," the boxman knows that your cash is not part of the action.
In reality, in in real life craps games, we compete with cheques, not chips. Every now and then, a player will walk up to the the craps table, put down a $100 cheque, and tell the croupier, "Cheque change." It’s entertaining to act like a newbie and ask the dealer, "Hey, I’m new to this game, what is a cheque?" Frequently, their crazy answers will entertain you.
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